Oaktree Specialty Lending Co. (NASDAQ:OCSL) shares sold by Truist Financial Corp
Truist Financial Corp reduced its stake in Oaktree Specialty Lending Co. (NASDAQ:OCSL – Get Rating) by 6.0% during the first quarter, according to its latest 13F filing with the Securities and Exchange Commission. The institutional investor held 89,972 shares of the credit service provider after selling 5,701 shares during the quarter. Truist Financial Corp’s holdings in Oaktree Specialty Lending were worth $663,000 at the end of the last reporting period.
A number of other hedge funds and other institutional investors have also been buying and selling stocks recently. Total Clarity Wealth Management Inc. increased its stake in Oaktree Specialty Lending by 9.1% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 29,726 shares of the credit service provider valued at $222,000 after buying 2,476 additional shares last quarter. CIBC Asset Management Inc increased its stake in Oaktree Specialty Lending by 39.6% in the 4th quarter. CIBC Asset Management Inc. now owns 14,016 shares of the credit service provider worth $105,000 after purchasing an additional 3,974 shares last quarter. Mercer Global Advisors Inc. ADV increased its stake in Oaktree Specialty Lending by 23.3% in Q4. Mercer Global Advisors Inc. ADV now owns 25,518 shares of the credit service provider worth $190,000 after buying 4,818 additional shares in the last quarter. National Asset Management Inc. increased its stake in Oaktree Specialty Lending by 3.6% in the fourth quarter. National Asset Management Inc. now owns 140,975 shares of the credit services provider worth $1,052,000 after buying 4,964 additional shares last quarter. Finally, Carmel Capital Partners LLC increased its stake in Oaktree Specialty Lending by 3.3% in the 1st quarter. Carmel Capital Partners LLC now owns 165,593 shares of the credit service provider worth $1,220,000 after purchasing an additional 5,347 shares last quarter. 65.27% of the shares are held by hedge funds and other institutional investors.
Insiders place their bets
In other Oaktree Specialty Lending news, Chairman Mathew Pendo purchased 18,381 shares of the company in a trade on Monday, May 9. The shares were purchased at an average cost of $7.06 per share, for a total transaction of $129,769.86. Following the completion of the purchase, the president now directly owns 103,591 shares of the company, valued at $731,352.46. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Separately, director Phyllis R. Caldwell acquired 5,000 shares in a transaction dated Monday, May 23. The shares were acquired at an average cost of $6.80 per share, with a total value of $34,000.00. Following completion of the transaction, the administrator now owns 12,700 shares of the company, valued at approximately $86,360. The purchase was disclosed in a document filed with the SEC, accessible via this link. Additionally, Chairman Mathew Pendo acquired 18,381 shares in a transaction dated Monday, May 9. The shares were purchased at an average cost of $7.06 per share, with a total value of $129,769.86. Following completion of the transaction, the president now owns 103,591 shares of the company, valued at approximately $731,352.46. Disclosure of this purchase can be found here. Insiders acquired 30,881 shares of the company worth $215,195 in the past three months. Insiders of the company own 0.32% of the shares of the company.
A Wall Street analyst gives his opinion
A number of research analysts have weighed in on the stock. StockNews.com took over coverage of Oaktree Specialty Lending stocks in a Thursday, March 31 research note. They issued a “holding” rating on the stock. The Hovde Group reduced its target price on shares of Oaktree Specialty Lending to $7.00 in a Friday, May 20 research note.
Oaktree Specialty Lending Stock Performance
Shares of Oaktree Specialty Lending opened at $6.74 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt ratio of 0.47. The company has a market capitalization of $1.24 billion, a PE ratio of 8.87 and a beta of 1.28. The company’s 50-day simple moving average is $6.72 and its 200-day simple moving average is $7.16. Oaktree Specialty Lending Co. has a 52-week low of $6.20 and a 52-week high of $7.81.
Oaktree Specialty Lending (NASDAQ:OCSL – Get Rating) last released quarterly earnings data on Thursday, May 5. The credit service provider reported earnings per share (EPS) of $0.18 for the quarter, beating the consensus estimate of $0.17 by $0.01. The company posted revenue of $64.30 million for the quarter, versus a consensus estimate of $58.95 million. Oaktree Specialty Lending had a return on equity of 9.59% and a net margin of 53.18%. Stock analysts expect Oaktree Specialty Lending Co. to post earnings per share of 0.72 for the current year.
Oaktree Specialty Loans Increase Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Wednesday, June 15 received a dividend of $0.165 per share. The ex-dividend date was Tuesday, June 14. This is a positive change from Oaktree Specialty Lending’s previous quarterly dividend of $0.16. This represents a dividend of $0.66 on an annualized basis and a yield of 9.79%. Oaktree Specialty Lending’s dividend payout ratio is 86.84%.
Oaktree Specialty Loan Company Profile
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Oaktree Specialty Lending Corporation is a business development company specializing in middle market investments, bridge financing, first and second lien debt financing, unsecured and mezzanine loans, mezzanine debt, senior and junior secured debt , expansions, sponsor-led acquisitions, preferred stock and management buy-outs in small and medium-sized businesses.
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